EXHIBIT 10.18
AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT, DATED AS OF NOVEMBER 30, 2000, BETWEEN
TELEMUNDO NETWORK GROUP LLC, TELEMUNDO COMMUNICATIONS GROUP, INC. AND XXXX XXXXX
AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT
AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT (this "Amendment") dated as of
November 30, 2000, between TELEMUNDO NETWORK GROUP LLC, a Delaware limited
liability company (the "Company"), TELEMUNDO COMMUNICATIONS GROUP, INC., a
Delaware corporation ("Telemundo Communications") and XXXX XXXXX ("Employee").
WHEREAS, the Company and Employee are parties to that certain
Employment Agreement dated as of August 12, 1998, as amended by Amendment No. 1
to Employment Agreement dated as of September 17, 1999 (collectively, the
"Agreement").
WHEREAS, concurrent with the execution and delivery of this Amendment,
Liberty Media Corporation and SPE Mundo Investment Inc., a wholly owned
subsidiary of Sony Pictures Entertainment Inc., each are transferring a portion
of their respective interests in the Company to Telemundo Communications, solely
in exchange for equity interests in Telemundo Communications.
WHEREAS, the Company, Telemundo Communications and Employee wish to
amend the Agreement by this Amendment.
NOW, THEREFORE, the parties hereto agree as follows:
1. All terms used herein but not defined shall have the meanings given in
the Agreement.
2. Employee hereby consents to the assignment of the Agreement and of his
services to be performed under the Agreement by the Company to
Telemundo Communications and Telemundo Communications assumes all
obligations and duties under the Agreement and the Company is released
of any and all further obligations or liabilities under the Agreement.
3. Section 2 of the Agreement is hereby amended and restated in its
entirety to read as follows:
DUTIES AND PRIVILEGES. During the Employment Period, Employee shall
serve as Chief Operating Officer of Telemundo Communications Group,
Inc.; be responsible to and report to the Chief Executive Officer of
Telemundo Communications Group, Inc.; perform such services consistent
with Employee's position hereunder as the Chief Executive Officer may
from time to time require; devote Employee's entire business time,
ability and energy exclusive to the performance of Employee's duties
hereunder; and use Employee's best efforts to advance the interests and
businesses of Telemundo Communications Group, Inc., its divisions and
subsidiaries. As Chief Operating Officer, Employee shall be responsible
for, among other things, the day-to-day management of legal and
business affairs, finance, technical operations, human resources,
administration and affiliate relations. Such duties may be modified
from time to time by the Chief Executive Officer of Telemundo
Communications Group, Inc. provided Employee's duties, as so modified,
are consistent with Employee's position hereunder. Employee
shall perform his duties at the offices of Telemundo Communications
Group, Inc. located in Miami, Florida.
4. Pursuant to the provisions of Section 1 of the Agreement, the Company
hereby exercises its option to extend the Employment Period for two
additional years ending on June 30, 2003.
5. Except as expressly modified herein, all of the terms of the Agreement
remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement or
caused it to be executed on their behalf as of the date first above written.
TELEMUNDO NETWORK GROUP LLC
By: /s/ Xxxxx X. XxXxxxxx
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TELEMUNDO COMMUNICATIONS GROUP, INC.
By: /s/ Xxxxx X. XxXxxxxx
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/s/ Xxxx Xxxxx
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Xxxx Xxxxx
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